Frederick Martin Quinn Jr., of Toledo, Ohio, a stockbroker formerly registered with Allstate Financial Services, LLC, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Quinn, inter alia, signed the names of customers on annuity exchange documentation without the customers’ consent. Letter of Acceptance, Waiver and Consent, No. 2016049590101 (Mar. 6, 2017).
According to the AWC, Quinn signed the names of two customers on documents which requested funds to be transferred from the customers’ existing policies to new policies pursuant to annuity exchange transactions. The AWC stated that Quinn’s conduct was violative of FINRA Rule 2010 as the customers never approved of Quinn to input the customers’ signatures on the annuity documents.
FINRA Public Disclosure reveals that on May 6, 2016, a customer filed an investment related written complaint involving Quinn’s conduct, in which the customer requested $17,156.00 in damages based upon allegations that Quinn misrepresented the costs of a variable annuity to the customer, and the annuity product Quinn effected the purchase of was unsuitable for the customer.
On February 29, 2016, Quinn was terminated from Allstate Financial Services, LLC based upon allegations that he did not disclose eleven liens and judgments as required.
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